EIA reports 11 million-barrel drop in oil supplies

SAN FRANCISCO (MarketWatch) -- Oil futures pared some of their losses Friday after the U.S. Energy Information Administration reported a bigger-than-expected drop in crude supplies for the week ended Dec. 28. Crude supplies fell by 11 million barrels. Analysts polled by Platts expected a 1 million-barrel decline. Motor gasoline supplies rose by 2.6 million barrels, while distillate stocks climbed 4.6 million barrels, the EIA report said. Analysts had forecast a rise of 2.3 million barrels for gasoline inventories and a climb of 1.6 million barrels in distillate supplies. Following the latest data, which were delayed due to the New Year's Day holiday, February crude
CLG3, +0.00%
traded at $92.88 a barrel, down 4 cents. It was trading around $92.73 ahead of the report. The American Petroleum Institute reported late Thursday that crude supplies dropped 12 million barrels last week.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.